- Mineral exploration company Zenith Minerals (ZNC) has entered into a trading halt as it plans an upcoming capital raise
- Currently, it is unknown how much the company is planning to raise or what for
- Company shares will be paused until Friday, July 30, or when more information about the raise is released to the market
- On the market, Zenith last traded at 25 cents on July 27
Zenith Minerals (ZNC) has entered into a trading halt as it plans an upcoming capital raise.
So far, it is unknown how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Friday, July 30, or when more information about the raise is released to the market.
Zenith Minerals is an Australian-based mineral exploration company that is focussed on gold and silver projects.
Earlier this month, Zenith received the final assay results from an aircore drilling program at its Split Rocks gold project in WA.
Best results come from the Dulcie Far North target, where up to 70 grams of gold per tonne was intersected.
The drilling program began in May with 100 holes drilled across five target areas to test new zones of gold mineralisation.
On the market, Zenith last traded at 25 cents on July 27.